Weatherly Asset Management L. P. Has $6.42 Million Position in Deere & Company (NYSE:DE)

Weatherly Asset Management L. P. increased its position in shares of Deere & Company (NYSE:DE) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,100 shares of the industrial products company’s stock after acquiring an additional 154 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Deere & Company were worth $6,419,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DE. Sovran Advisors LLC bought a new position in shares of Deere & Company during the fourth quarter worth about $361,000. Stonebridge Financial Group LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $142,000. Essex Financial Services Inc. lifted its position in shares of Deere & Company by 12.4% in the fourth quarter. Essex Financial Services Inc. now owns 7,702 shares of the industrial products company’s stock valued at $3,263,000 after buying an additional 851 shares during the last quarter. Armor Investment Advisors LLC increased its stake in shares of Deere & Company by 0.7% during the fourth quarter. Armor Investment Advisors LLC now owns 5,953 shares of the industrial products company’s stock worth $2,522,000 after purchasing an additional 40 shares during the period. Finally, Sapient Capital LLC increased its stake in shares of Deere & Company by 0.3% during the fourth quarter. Sapient Capital LLC now owns 25,138 shares of the industrial products company’s stock worth $10,692,000 after purchasing an additional 85 shares during the period. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on DE. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research note on Friday, December 6th. Truist Financial lifted their price target on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Barclays raised their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Morgan Stanley boosted their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $446.17.

Deere & Company Price Performance

Shares of NYSE DE opened at $470.22 on Tuesday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84. The company has a 50 day simple moving average of $445.00 and a two-hundred day simple moving average of $413.46. The company has a market capitalization of $128.06 billion, a price-to-earnings ratio of 18.37, a P/E/G ratio of 2.87 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter last year, the firm earned $8.26 earnings per share. The firm’s quarterly revenue was down 32.8% compared to the same quarter last year. Analysts expect that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is 25.31%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.